Bridgestone/Firestone looking for new HQ, could leave Nashville

May 28, 2002 The AP is reporting that ten years after moving its headquarters from Ohio to Nashville, Bridgestone/Firestone is planning another move, and the search for new office space could take the tire maker out of the city or to another state altogether.

Bridgestone/Firestone Americas Holding Inc. wants to house its 750-800 corporate employees in one place rather than throughout the four buildings they now occupy, spokeswoman Christine Karbowiak said Friday.

"The problem is finding a space that fits our needs and is also a good financial deal," she said. "We're looking at a number of options. We really want to stay in Nashville, but we have an obligation to look at all the options and what's best for our employees."

Nashville officials are scheduled to meet with Bridgestone/Firestone officials next week.

"We're talking with them and we plan to do everything we can to keep them in Nashville," said Ava Philson, a spokeswoman for Mayor Bill Purcell. "We value what they bring to this community. They're a big employer and a good business."

That business had been shaky over the past few years, with federal investigations, lawsuits and recalls over concerns that defective tires caused hundreds of fatal accidents. The subsidiary of Tokyo-based Bridgestone Corp. lost $1.7 billion last year.

Since then, Bridgestone/Firestone has undergone a major restructuring, the federal government closed its investigations, and the company has reached out to the public and its dealers to try to keep them loyal.

It is apparently working. Firestone is ranked second among automakers and third in the U.S. replacement passenger tire market, according to Modern Tire Dealer magazine. And none of the company's major dealers left the fold.

"We believe firmly that we will be in a position to make money in 2002," Karbowiak said. "There is a real vigor and renewed focus on making sure our financial house is in order."

Karbowiak said the tire maker is on target to reach $7.7 billion in sales for this year, a 4 percent increase over last year.

"One of the things that is clear from what we're seeking is that the Firestone brand is extremely strong," she said. People who predicted the brand would disappear amid all the problems "didn't know us. They didn't know our employees, our customers, our dealers."

On Friday, Karbowiak was traveling to Indianapolis for the Indy 500 race to showcase the new Firestone Firehawk Indy 500 tire. It is the first time race officials have sanctioned use of the "Indy 500" name on a street tire or on any piece of equipment, Karbowiak said.

"The guys at the Speedway said it best, that this is the indication of the trust they have in Firestone and its products. They protected their trademark as jealously as they could. For them to let us use their mark is tremendous," she said.